Sabah & Sarawak
GREAT returns to support sabah entrepreneurs
Gathering of Rising Entrepreneurs, Act Together (GREAT) will be returning to Kota Kinabalu, Sabah for the second year, aiming to boost income growth by focusing on the agriculture, art and culture, social entrepreneurship, technology, tourism, as well as women in entrepreneurship areas.
Sabah forgoes natural resource revenue in order to protect environment
Sabah has taken a bold move to forgo substantial revenue from its natural resources, especially timber, in order to uphold its commitment towards environment protection. However, Sabah Chief Minister, Datuk Seri Musa Aman, said the step proved fruitful when the state achieved 26 per cent of total protected areas (TPAs), or 1.87 billion hectares of greenery.
Timber exports to improve 5 pct this year
The export of Malaysian timber is expected to increase five per cent this year from RM21.86 billion in 2016, supported by demand from India, said Plantation Industries and Commodities Deputy Minister Datuk Datu Nasrun Datu Mansur. He said the export value of sawn timber, plywood and medium density fibreboard to India recorded an increase of more than 25 per cent last year compared to 2015.
Ibraco faces tepid near-term outlook
Ibraco Bhd’s (Ibraco) earnings in the near future is expected to remain tepid due to the lack of contributions from its latest and maiden KL project. However, Ibraco has plans to continue venturing out from Sarawak, targeting larger catchment areas namely Penang, Selangor, KL and Johor.
KUB enters Sabah to boost plantations landbank
KUB Malua Plantation Sdn Bhd, a wholly-owned subsidiary of KUB Malaysia Bhd, has entered into a conditional Sale and Purchase Agreement with Kwantas Plantations Sdn Bhd, a wholly-owned subsidiary of Kwantas Corporation Bhd, to acquire a brownfield oil palm plantation land in Sungai Kinabatangan, Sabah measuring approximately 1,534 hectares for a cash consideration of about RM100.44 million.
CMS Opus Private Equity undertakes several corporate moves to finetune investments
CMS Opus Private Equity (COPE) has had a busy first four months of 2017, successfully finalising a number of investment exits and undertaking of new strategic investments in growing consumer segments.
Sarawak to take lead in business events revolution
Sarawak is set to spearhead a revolution to rally all business events communities in Malaysia under the Redefining Global Tribes campaign in conjunction with the Global Meetings Industry Day 2017 celebrated earlier this month.
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National
MAS to complete restructuring in in five years’ time, to continue route expansion
Malaysian Airlines is halfway through its RM6 billion restructuring exercise which is likely to be completed in five years’ time. MAS chief executive officer Peter Bellew said the national carrier was working hard to cut costs, realign its fleet and expand routes.
Mavcom resolves 95 pct of complaints
The Malaysian Aviation Commission (Mavcom) has successfully managed, resolved and closed 95 per cent of the 1,639 complaints received between March 2016 and February this year. The Commission in a statement said its inaugural Consumer Report highlighted that the highest number of complaints received were on Rayani Air with regards to
refunds.
Brainy Bunch en route for Bursa Malaysia listing by 2020
Educational proprietor, Brainy Bunch Sdn Bhd, is en route for listing on Bursa Malaysia Securities Bhd by 2020, said Executive Chairman, Datuk Seri Syed Zainal Abidin Syed Tahir. In pursuing this journey, Brainy Bunch needed to ensure its roadmap and original footprint were clear.
Petronas Dagangan registers record profit in 34 years
Petronas Dagangan Berhad wrapped up the financial year ended December 31, 2016 with a record profit before tax of RM1.21 billion, an increase of RM129.9 million as compared to the corresponding year. This was achieved through the company’s Winning Formula which anchors on sound strategies, offering superior products and services, supported by an energised workforce.
Eversafe Rubber debuts on ACE market
Eversafe Rubber Bhd (Eversafe) an investment holding company principally involved in the development, manufacturing and distribution of tyre retreading materials and tyre retreading operations officially commenced trading on the ACE Market of Bursa Malaysia Securities Bhd on Friday.